Search results for "JEL : K - Law and Economics"
showing 3 items of 3 documents
Another "French paradox": explaining why interest rates to microenterprises dit not increase with the change in French usury legislation
2015
Conventional wisdom indicates that the growth of credit may not materialize if credit rates remain capped by usury laws, as had long been the case in France. France therefore abolished usury ceilings on loans to microenterprise in an effort to increase financing for microentrepreneurs. This should have led to an increase in interest rates and increase in microcredit. However, we do not find any increase in interest rates and this is therefore a paradox. The paper provides a brief literature review and the salient features of the legislative changes in France. It follows this up with a presentation of interest rate movements. The discussion of possible explanations of the paradox includes cl…
Is the French mobile phone cartel really a cartel?
2009
International audience; France Telecom (FT), SFR and Bouygues Telecom (BT) have been fined by France's Conseil de la Concurrence (CC) for organizing a mobile phone cartel with stable market shares (one-half, one-third and one-sixth, respectively) and for directly exchanging commercial information. While not contesting the legal decision, it is argued here that the economic reasoning is flawed. (1) As the CC made much of the firms' stable market shares, we have first followed this line of reasoning by considering that the market shares are quotas under uniform costs. Even if there is a general incentive to form a monopolistic cartel, BT was too small for it to be worth its while to join it; it i…
Organisations de l'économie sociale et solidaire : quelle théorie de la gouvernance ?
2012
A major aim for cooperatives is to become the model of stakeholders' organizations while keeping profitable. This supposes to resolve the three following points: to ensure an efficient management of resources which makes it possible to carry out transactions at a cost lower than that which would take place on the market; to design mechanisms of corporate governance allowing expression and implementation of stakeholders' interests and expectations; to implement mechanisms of control allowing to evaluate the action of top executives, particularly regarding satisfaction of expressed stakeholders expectations.